2 Min Read
* Q2 adj EPS $0.44 vs. est. $0.39
* Sees 2010 EPS $1.89-$2.09
* Raises div by 4 pct
Feb 24 (Reuters) - Air and liquid filtration maker Donaldson Co Inc (DCI.N) posted better-than-expected quarterly results, helped by cost reduction initiatives, forecast 2010 earnings above market view and raised dividend.
For the second quarter ended Jan. 31, the company posted earnings of $31 million, or 39 cents a share, compared with $33.8 million, or 43 cents a share, a year earlier.
Excluding pre-tax restructuring expenses of $5.1 million, Donaldson earned 44 cents a share.
Sales fell 5 percent to $436.1 million.
Analysts on average were expecting earnings of 39 cents a share, on revenue of $428.5 million, according to Thomson Reuters I/B/E/S.
The company forecast 2010 earnings of $1.89 to $2.09 a share, excluding restructuring charges, on sales of $1.8 billion. [ID:nWNAB1459]
Analysts were expecting earnings of $1.87 a share, on revenue of $1.8 billion for 2010.
Separately, Donaldson increased its quarterly cash dividend by 4 percent to 12 cents a share.
Shares of the company closed at $41.31 Wednesday on the New York Stock Exchange. (Reporting by Amulya Nagaraj in Bangalore; Editing by Unnikrishnan Nair)